Comment on Updates - June 2015

pvohra commented on 23 Jun 2015, 08:55 AM

I thought I would share the ONE and ONLY thing I do not like about Zerodha…

In the other (both normal & discount) brokerages that I have dealt with (ICICI Direct, others) funds are available for withdrawal by 0800 on T+2. While ICICI automatically transfers the funds even in the case of the discount brokerage, if a withdrawal is made before 0900 funds are invariably available in my bank account by 1100 on T+2 itself. In the case of Zerodha however the funds are available for withdrawal only by the afternoon on T+2 and withdrawals are actioned only after 1900 hours. So, of course, the funds actually hit the bank accounts only on T+3 (even when the account is with HDFC Bank). This can be quite crummy if one needs to urgently redeploy the funds

What has surprised me though is that no other trader seems to have this issue… have I got something wrong here?

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